A stronger security process for safer and more secure online purchases is being introduced by Bank of Valletta in line with a new regulatory requirement known as Strong Customer Authentication (SCA).

The Bank said that people who buy goods or pay for services online are often required to authenticate their payments through a fraud protection tool known as 3D Secure, by which they receive an SMS with a code which must be keyed in before payment is affected.

BOV will soon be launching a new BOV 3D Secure app, which will replace the current SMS method.

Customers making online purchases will be required to download the app on their smartphone, upload one of their active BOV Cards on it, and authenticate their payments through this app.

The Bank explained that the new system will help protect online shoppers even further, making their purchases more secure as it introduces an additional layer of security to minimise the risk of fraudulent transactions.

More details regarding the new app will be communicated by the Bank once the App becomes available for download.

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